Quebecor Saw Solid Top-Line Growth and Margin Expansion With Spectrum Sales; Raising FVE to CAD 50
Quebecor’s second-quarter results were in line with our expectations on the top line, but exceeded our expectations on profitability. Total revenue grew 4% year over year, driven by 5% revenue growth at Videotron, Quebecor’s cable subsidiary in Quebec and the crown jewel of Quebecor’s holdings. Firmwide EBITDA grew almost 10% year over year, the largest quarterly increase in almost five years. This pushed the EBITDA margin to 38.3%, up from 36.3% a year ago, given solid margin improvement at Vid...Quebecor is a holding company. Through its subsidiaries, Co. is engaged in cable services; residential and business telecommunications; newspaper publishing; production and distribution of print media products; broadcasting; retailing, publishing and distribution of books, magazines and videos; recording, production and distribution of music; and new media services. As of Dec 31 2010, Co. had 1,811,570 cable television customers, 1,252,100 subscribers to cable Internet access services, 1,114,300 subscribers to cable telephony service, and 136,100 subscribers to mobile telephony services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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